Latest news with #ElizabethHorst
Business Recorder
3 days ago
- Business
- Business Recorder
Finance minister, US Chargé d'Affaires discuss strengthening economic, trade cooperation
U.S. Chargé d'Affaires in Pakistan Elizabeth Horst on Monday called on Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb to discuss the ongoing momentum in Pakistan-U.S. economic relations and explore avenues for further cooperation, the ministry said in a statement. During the meeting, held at the Finance Division, both sides exchanged views on matters of mutual interest and reaffirmed their commitment to deepening bilateral engagement, particularly in trade and investment. Senator Aurangzeb appreciated the longstanding support of the United States for Pakistan's economic development and acknowledged Washington's continued backing for macroeconomic stability over the past year and a half. He also welcomed the positive trajectory of bilateral ties across multiple sectors. Referring to his recent visit to the United States, the minister briefed Ms. Horst on his meetings with U.S. Secretary of Commerce Howard Lutnick and U.S. Trade Representative Ambassador Jamieson Greer, and highlighted the encouraging progress in trade relations. He underscored the significance of the U.S. as Pakistan's largest trading partner and emphasised Islamabad's interest in expanding cooperation in high-potential areas such as information technology, minerals, and agriculture. The minister also apprised the U.S. diplomat of Pakistan's improving macroeconomic indicators, including recent sovereign credit rating upgrades and growing investor confidence. He outlined key reform measures underway in taxation and energy, aimed at ensuring long-term economic sustainability. He further shared updates on Pakistan's recent entry into Middle Eastern capital markets, plans for issuing its inaugural Panda bond, and future access to Euro and U.S. dollar-denominated capital markets. Ms. Horst welcomed the economic progress and acknowledged the government's reform-oriented approach. She reaffirmed the U.S. commitment to strengthening economic and trade ties with Pakistan and expressed optimism about forging a resilient and broad-based business partnership. The meeting concluded with both sides agreeing to build on the current momentum and deepen bilateral collaboration in the coming months.
Express Tribune
3 days ago
- Business
- Express Tribune
Pakistan, US explore new trade avenues amid warming ties
US Chargé d'Affaires Ms. Elizabeth Horst calls on Finance Minister Aurangzeb in Islamabad on July 28. Photo: Radio Pakistan Listen to article United States Chargé d'Affaires Elizabeth Horst met Finance Minister Muhammad Aurangzeb in Islamabad on Monday to discuss economic cooperation and reaffirm the strengthening trajectory of bilateral ties, Radio Pakistan reported. According to a finance ministry statement, the meeting provided 'an opportunity to exchange views on matters of mutual interest' and underscored growing collaboration between Pakistan and the US. Aurangzeb thanked the US for its long-standing support of Pakistan's economic development, particularly the backing for macroeconomic stability achieved over the past 18 months. He also recalled his recent visit to Washington, DC, where he held what he described as 'productive meetings' with US Secretary of Commerce Howard Lutnick and Trade Representative Ambassador Jamieson Greer. The minister said those discussions had contributed to a 'healthy momentum in bilateral engagement'. 'The United States remains Pakistan's largest trading partner,' Aurangzeb said, while expressing Pakistan's interest in expanding cooperation beyond traditional sectors. He noted growing potential in information technology, minerals, and agriculture as key areas for mutually beneficial investment and collaboration. Aurangzeb also briefed the visiting diplomat on Pakistan's improving macroeconomic indicators, including recent sovereign rating upgrades and renewed investor confidence. He outlined key reforms being undertaken in taxation and energy aimed at fostering long-term, sustainable growth. The minister further shared updates on Pakistan's successful participation in Middle Eastern capital markets and plans to issue the country's first Panda bond, along with upcoming ventures in the Euro and US dollar markets. The meeting concluded with both sides reaffirming their commitment to deepen cooperation and build on the progress made in recent months.
Arab News
3 days ago
- Business
- Arab News
Finmin highlights Pakistan's IT, mineral and agriculture potential for collaboration with US
KARACHI: Finance Minister Muhammad Aurangzeb on Monday met with US Chargé d'Affaires Elizabeth Horst and discussed with her the potential of Pakistan's information technology (IT), minerals and agriculture sectors for collaboration with the United States, the Pakistani finance ministry said. The meeting served as an opportunity to exchange views on matters of mutual interest and to reaffirm the positive trajectory of bilateral relations between Pakistan and the United States. Aurangzeb appreciated the continued US support for Pakistan's development and macroeconomic stability achieved over the past year and a half, according to the Pakistani finance ministry. 'Aurangzeb underscored the importance of the US as Pakistan's largest trading partner and highlighted Pakistan's keen interest in broadening bilateral cooperation beyond traditional sectors,' his ministry said. 'He specifically pointed to the promising potential in information technology, minerals and agriculture as avenues for mutually beneficial collaboration.' The US is Pakistan's top export destination, with shipments totaling $5.44 billion in fiscal year 2023-2024, according to official data. From July 2024 to February 2025, exports rose 10 percent from a year earlier. Both countries have been engaged in talks after Washington announced a 29 percent 'reciprocal tariff' on Pakistani exports in April. Islamabad said the move, paused in June for a 90-day period, may undercut its fragile, export-led recovery. Recalling his visit to the US this month, Aurangzeb shared insights from his productive meetings with US Secretary of Commerce Howard Lutnick and Trade Representative Ambassador Jamieson Greer in Washington, noting 'encouraging progress' in deepening trade and economic ties between the two countries. He also briefed Horst on Pakistan's recent macroeconomic indicators, including sovereign rating upgrades and renewed investor confidence, according to the Pakistani finance ministry. The US chargé d'affaires appreciated the economic progress and the government's reform-driven approach, emphasizing the US commitment to strengthening economic and trade ties with Pakistan. 'She reiterated US support for continued economic and political stability in Pakistan, and expressed optimism for an enduring and robust business partnership between the two nations,' the Pakistani ministry said. 'The meeting concluded with a mutual commitment to building on the momentum of current engagements to further deepen bilateral cooperation.'
Business Recorder
6 days ago
- Politics
- Business Recorder
Sindh CM discusses US development aid with Elizabeth Horst
KARACHI: Sindh Chief Minister Syed Murad Ali Shah met with Elizabeth Horst, Chargé d'Affaires of the United States of America to Pakistan, to discuss the progress and future of US development assistance in the province. The meeting was held at CM House and was attended by provincial ministers - Syed Nasir Hussain Shah, Principal Secretary to CM Agha Wasif, Chairman P&D Board Najam Shah. The USA delegation members were Consul General Scott Urbom, Deputy Consul General Jai Nair, Chief Political & Economic Section Shelley Saxen, Political Officer Trevor Earnshaw, Political Specialist Saleh Shah and Staff Assistant Charles Besnard. The two sides reviewed completed initiatives and explored future collaboration opportunities in the fields of education, water and sanitation, health, climate resilience, and municipal services. Chief Minister Murad Ali Shah reaffirmed his government's commitment to deepening its partnership with USAID. He outlined several areas where USAID's continued support is critical: Education Sector Reforms: The CM said that his government seeks USAID's assistance in addressing post-2022 flood reconstruction needs, with over 20,000 schools fully or partially damaged. The province aims to restore educational infrastructure and scale up quality teaching through ICT and teacher training. Water, Sanitation & Hygiene (WASH): Murad Shah said that under the WASH project; there is a dire need for immediate rehabilitation of 799 water supply schemes, 444 drainage systems, and 1,212 RO/UF plants is underway. He proposed an additional 504 filtration units for schools and health facilities.
